EU bans sale and purchase of Russian diamonds as part of sanctions against Moscow.

The European Union approved the twelfth package of sanctions against Russia, including a ban on the purchase and export of Russian diamonds.

The measure will come into force on 1 January, when the mechanism set up by the G7 countries to trace Russian diamonds through the global production chain will be implemented to ensure the effectiveness of the sanctions.

Putin extends ban on crude oil sales at maximum prices for up to six months.

Russian President Vladimir Putin issued a decree on 18 december announcing his decision to extend until 30 June 2024 the ban on selling crude oil and derivatives to buyers who comply with the rules and prices set by Australia, the G7 and the European Union.

The EU adopts the first-ever law on artificial intelligence.

As part of its digital strategy, the EU wants to regulate artificial intelligence (AI) to create better conditions for the development and use of this innovative technology. AI can bring many benefits, such as better healthcare, safer and cleaner transport, more efficient manufacturing and cheaper and more sustainable energy.

Colorado court bars Trump from 2024 election for his role in 6 January.

The Colorado Supreme Court on Tuesday barred former US President Donald Trump from the state’s primary ballot for the 2024 White House election, ruling that his role in the attack on the Capitol made him an ineligible presidential candidate.

MSC, the world’s largest shipping line, joins shipping giants Hapag-Lloyd and Maersk in suspending Red Sea voyages in the wake of the attacks.

MSC, the world’s largest shipping company, has said it will no longer sail through the Suez Canal after its container ship, the MSC PALATIUM III, was attacked on Friday while transiting the Red Sea under a subcontract with Messina Line.

Carriers have already diverted more than $80 billion worth of cargo from the Red Sea in fear of the attacks.

Carriers are diverting ships as a direct result of the 15 attacks in the Red Sea since the start of the Israel-Hamas war in October.

Gold set for best year in three on hopes for Fed rate cuts

Gold prices were set for their best year in three, as expectations grew for U.S. interest rate cuts early next year and the war in Ukraine and tensions in the Middle East lifted safe-haven demand.

It has risen 14% so far this year, heading for its biggest annual gain since 2020.




In Madrid, 31 December 2023

International Trade and Sanctions Department

Lupicinio International Law Firm


International Sanctions, Arbitration, Litigation, Criminal, Competition AND MORE!

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